Currency

The Euro's Model Student

People walk past posters reading in Estonian "Euro is our money." i i

People walk past posters reading in Estonian "Euro is our money." Raigo Pajula/AFP/Getty Images hide caption

itoggle caption Raigo Pajula/AFP/Getty Images
People walk past posters reading in Estonian "Euro is our money."

People walk past posters reading in Estonian "Euro is our money."

Raigo Pajula/AFP/Getty Images

In the last few months, we've done stories about how actions taken by Ireland, Greece, Spain, and even a European bailout fund have threatened the future of the entire Eurozone.

On today's show, we bring you the story of one country that played by the rules and did everything exactly the way they were supposed to. One country that made cut after cut, after cut in hopes of gaining access to the special club of the euro — Estonia.

Estonia officially surrendered its kroons and moved to the euro this week so we figured it was a perfect time to ask the country's president if he thought all those sacrifices were worth it.

Graph of economic growth rates i i
Jess Jiang/NPR
Graph of economic growth rates
Jess Jiang/NPR

Correction: This podcast incorrectly reports that the Estonian central bank plans to burn old Kroons. In fact the bank has not yet decided how to dispose of the old currency. Burning bills is one of a few options under consideration.

Subscribe to the podcast. Music: Ott Lepland's "Läbi öise Tallinna." Find us: Twitter/ Facebook.

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